Promissory Fraud
Were you induced to leave your old firm with promises that were never kept? Contrary to what the firms will tell you, false promises to induce you to quit one position for another may be actionable. Damages may include the value of your commissions and other benefits you gave up which can be projected for a number of years as well as the direct expenses resulting from your change in position.
These promises are often accompanied by a loan that is forgivable over time. If you leave before the balance has been paid, you can expect the firm to file an arbitration against you. You will then be transformed from prosecuting your claim as a victim, to defending a claim accusing you of wrongdoing. You must act promptly to protect yourself and your book of business.
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